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To: jmhollen who wrote (4031)	6/29/1999 8:19:00 PM
From: jmhollen	Respond to of 7209

More from the "..Jus' so's ya know Department..": News/Business Development Service Center to Help Save Energy, Raise Funds China Daily, May 9 Chinese enterprises will get better advice on attracting investment and effectively using money for energy-saving production, thanks to a professional services center set up to help them link with big firms in developed countries. The center, named Unido Investment Promotion Service -- China Investment Project Assessment Centre, was set up jointly by the United Nations Industrial Development Organization (Unido) and China Energy Conservation Investment Corporation (CECIC). The two parties signed an agreement in Beijing on May 8, marking the start of the center's operation. Full Story. Coal Output Declines China Business Net, May 4 Last year, China's key state coal mines operated profitably for the first time since 1984. They were back in the red during the first quarter of 1998, however, with reported losses of $185 million. A coal glut combined with reduced economic activity have led to a revised 1998 forecast of 1,300 million tons of coal output, down 50 million tons from the 1997 level. Coal output in January 1998 was down 18 percent from the same period last year. New reforms are expected to result in mergers creating large coal enterprise groups. April FDI Drops Reuters, May 19 Flows to China of foreign direct investment plunged by nearly 20 percent in April. But contracted, or promised, foreign investment for the month -- an indication of future trends -- was up over 15 percent. Foreign-investment firms, located primarily along the coast, account for about 40 percent of China's exports. While the Asian economic crisis is believed to account for most of the drop, China had unusually high FDI activity in April of 1997. China's still impressive capital inflows, on top of surprisingly healthy export growth this year, has helped reduce pressure for a currency devaluation. Hong Kong Economy Shrinks 2 Percent South China Morning Post, May 29 Hong Kong's economy contracted by 2 percent in the first quarter, the first decline in almost 13 years, because of Asia's financial crisis. Financial Secretary Donald Tsang said that the government's 3.5 percent growth forecast for the year was no longer possible. Tsang immediately announced a series of measures to stimulate the economy. They include streamlining residential mortgage programs, improving bank liquidity, and boosting tourism. Falling Oil Prices Hitting China Hard Agence France Presse, May 5 China is being badly hit by the falling oil prices on the world market because the government has failed to reduce the price of its own oil, according to Xinhua news agency. International prices have fallen 40 percent since a meeting of the Organisation of Petroleum Exporting Countries (OPEC) in November decided to increase production quotas by 10 percent. But the price fixed by the Chinese authorities last year remains at around 18 dollars a barrel, compared with 12 dollars for imported crude. Full Story. Chinese City to Use Cleaner Cars Associated Press, April 26 Shenzhen, China's boom town near Hong Kong, plans to run up to 1,000 taxis on liquefied petroleum gas, a cleaner burning fuel than gasoline. Unidentified environmental officials said the city plans to install tanks for LPG in all its 15,000 public transportation vehicles by 2000. The shift from gasoline would reduce carbon monoxide and hydrocarbon from auto exhaust about 80 percent and 70 percent, respectively. Along with heavy use of coal as energy, auto exhaust in China's traffic-snarled cities has become a leading cause of some of the world's worst air pollution. China's vehicles have poor emission controls. A recent World Bank study found that although Beijing has one-tenth the number of cars as Los Angeles, its auto emissions are almost as great. Wind-Power Generating Center Passes State Appraisal CB Net, May 19 A wind-power center with a generating capacity of 64 megawatts recently passed the state technical appraisal. The center lies in Dabancheng, in northwest China's Xinjiang Uygur Autonomous Region and cost $60 million to complete. At present, more than 200 power-generating units are in operation at the center. Another 20 sets of 600-kw units and 51 500-kw units will be installed later this year.